Jan 31 Broadcaster Media General Inc posted a 40 percent jump in fourth-quarter revenue on an increase in political advertising, sending its shares up 6 percent before the bell.
The company earned $17.6 million, or 62 cents per share, in the fourth quarter, compared with a loss of $3.3 million, or 15 cents per share, a year earlier.
Revenue rose 40 percent to $108.7 million. The company recorded political revenues of $30 million for the quarter.
Shares of the Richmond, Virginia-based company were up 6 percent at $4.36 in premarket trading on Thursday. They closed at $4.12 on the New York Stock Exchange on Wednesday.